Jesse Litvak, a former Jefferies & Co Managing Director, was convicted of defrauding buyers in a criminal case connected to the US government's Troubled Asset Relief Program, Bloomberg reported.

New York, US-based scrap metal processor and recycler Upstate Shredding snapped up Irving-based rival Brant Auto Parts for an undisclosed amount in an all-cash deal.

Ranbaxy Laboratories has recalled 64,000 bottles of its generic version of Lipitor in the US after a 20-milligram tablet was found in a bottle for 10-milligrams, Reuters reported.

In the absence of rules that banned the use of commercial drones, Federal Judge Patrick Geraghty has ruled that these low-flying aircraft can be used for business purposes, TechCrunch reported.

Mobli, the startup that also offers a mobile photo and video platform, has announced its intentions to join the Nasdaq Private Market to provide its investors more liquidity, TechCrunch reported.

Optio Labs secured $10 million from parent company Allied Minds and other private investors for its Series A funding round. The company provides software solutions for mobile security, a statement about the funding said.

New York, US-based startup school General Assembly scored $25 million in a recent funding round to expand its tech and entrepreneurship course offering and to build new campuses.

Applications are now being accepted for the third round of the Presidential Innovation Fellows program, the initiative that seeks to leverage on the expertise of the technology industry to improve the lives of Americans and government operations, VentureBeat reported.

Workable, a developer of SME-focused cloud-based recruitment platform, secred a $1.5 million investment in its latest funding round led by Greylock Partners

DreamIt Ventures Austin has rolled out a new microfund this week together with AngelList to give additional funding to the nine startups in its accelerator program, VentureBeat reported.